Weaker energy stocks hit European equities, Greek shares slump

martes 9 de diciembre de 2014 08:03 GYT

* FTSEurofirst 300 falls 1.2 pct, Greek shares sink 10.2 pct

* Tesco slumps after another profit warning

* Energy stocks track weaker crude oil prices (Adds quotes, detail)

By Alistair Smout

LONDON, Dec 9 (Reuters) - European shares hit a two-week low on Tuesday with a further slide in crude oil prices hurting energy stocks, while the Greek market sank after the country's presidential election was unexpectedly brought forward.

The STOXX Europe 600 Oil and Gas dropped 1.2 percent after Brent oil slipped to a five-year low below $66 on worries over a swelling supply glut.

The FTSEurofirst 300 index of top European shares was down 1.2 percent at 1,378.50 points by 1151 GMT, after falling to its lowest since late November with energy companies BP, Tullow Oil, Statoil and Total falling 1.7 to 2.1 percent.

"Lower energy prices are set to enhance consumer demand, while a stronger dollar will have an increasingly positive effect on European exports. The earnings estimates of consumer-oriented and cyclical sectors will improve in this environment," Christian Stocker, strategist at UniCredit in Munich, said.

"But commodity sectors like basic resources and oil and gas are set to remain under pressure given the pronounced excess supply of important industrial metals and oil."   Continuación...